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Nairobi – The Monetary Policy Committee (MPC) has
maintained the current Central Bank Rate (CBR) at 18 percent in a bid to
ensure reduced inflation and sustain the exchange rate stability.

After a meeting on Tuesday, the committee also observed that the
current monetary policy stance supported by appropriate fiscal policy
had continued to deliver the desired outcomes on inflation and the
exchange rate.

Overall inflation continued to decline, dropping from 18.31 percent
in January 2012 to 16.69 percent in February, while the exchange rate
of the Kenya shilling to the US dollar remained stable within the narrow
range of Sh82.65 to Sh83.93, an outcome of the policy of a floating
exchange rate.

The Auditor General report that revealed massive wastage of public funds shows how Kenya is too far from winning the war against graft, Parliament’s Public Accounts Committee chairman Nicholas Gumbo has said. Read more...